Kamsarmax orders rally again [Shipping]
New orders for bulk carriers of 80,000-DWT class are being reported following one after another recently. According to foreign media reports, Korea's Hyundai Samho Heavy Industries signed a contract with a local shipping company for two bulk carri...
2010-11-26 09:03:07
Samsung inks two more LNG ships [Offshore]
Korea's Samsung Heavy Industries (SHI) is said to have received additional orders for two LNG carriers of 160,000-cbm class from Chevron, America's oil major. SHI had signed a contract with Chevron for two LNG carriers in May 2010, and then recei...
2010-11-26 08:54:04
STX buys ship-block manufacturer [Equipment]
The board of directors of Korea's STX Offshore & Shipbuilding decided to buy the entire shares (321,360) in Hyukshin Machinery, a compatriot ship-block manufacturer, for KRW 39.2bn (about $34m), STX announced in a stock exchange filing on November 23...
2010-11-26 08:45:53
2011 shipbuilding outlook 'gloomy' [Shipbuilding]
According to the report on 'Primary Industry Forecast and Current Status for 2011' released by Hyundai Research Institute, Korea's business economy is expected to move from boom-phase in 2010 to slow-phase next year under the influences of slowdown o...
2010-11-26 08:36:08
Keppel wins $180m jack-up rig [Offshore]
Singapore's Keppel FELS said Thursday it has won a $180 million contract to build a new jack-up rig for Norway's Standard Drilling. The rig will be built to KFELS B Class design and will be able to operate in water depths of 400 feet and drilling...
2010-11-26 08:09:47
Atlantico leads Petrobras drillship bids [Offshore]
Petrobras has approved the qualification of all seven bidders on its multi-billion dollar tender aimed at contracting up to 28 deep-water drilling rigs to be built in Brazil. The Brazilian oil giant requested participants to obtain endorsements of...
2010-11-26 08:03:57
MISC profits jump [Shipping]
MISC’s profits in the second quarter leapt 159%, compared to the same period of last year, to reach RM416.3m. The Malaysian shipping company said the jump in profitability was mainly due to improved results from its restructured liner business ...
2010-11-26 07:54:47
MOL inks 25-year ore deal with Vale [Shipping]
Mitsui OSK Lines (MOL) has inked a 25-year contract with Brazilian mining giant Vale to transport iron ore from Brazil to China. The contract is for two very large ore carriers (VLOCs) to serve the Vale – China shuttle service. MOL has orde...
2010-11-26 07:53:00
USC gets 50% stake in Aker Helsinki [Finance]
State-owned United Shipbuilding Corporation (USC, Russia) has acquired a 50-percent stake in Aker Helsinki Shipyard oy (Helsinki, Finland). USC closed the deal recently, and at the time of the transaction the Aker’s shipbuilding asset cost 300 m...
2010-11-26 07:50:36
CMA CGM bags Yildrim cash [Finance]
Jacques Saade-led liner giant CMA CGM announced it has reached a final agreement for Yildrim Group of Turkey to invest $500m in the company by acquiring five-year ORA equity notes giving access to 20% of CMA CGM’s share capital. Yildrim will al...
2010-11-26 07:45:18
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